Washington H. Soul Pattinson and Co. Limited (ASX:SOL)

Washington H. Soul Pattinson and Co. Limited’s FY26 ASX investor presentation for the full year ended 31 July 2026 outlines a transformative year marked by completion of the $15 billion Brickworks merger, a stronger balance sheet, a shift in tax position to a net deferred tax asset of $0.8 billion, and continued long-term outperformance, with total shareholder return of 16.8% versus 6.0% for the ASX200 Total Return Index, pre-tax NAV of $13.7 billion, post-tax NAV of $14.5 billion, and net cash flow from investments of $572 million; the group reported statutory NPAT of $2.191 billion largely due to merger-related accounting gains and portfolio revaluations, while underlying cash generation remained supported by Credit, Private Companies and Real Assets, enabling a 63 cents per share fully franked final dividend and 111 cents per share total dividend, extending dividend growth to 28 consecutive years; the portfolio is now more diversified and liquid, with allocations across Listed Companies, Fixed Income, Private Companies, Credit, Emerging Companies and Real Assets, including a new 20% fixed income allocation funded partly by the $1.9 billion industrial property sale, expanded global private partnership commitments, and increased exposure to defensive, uncorrelated and offshore opportunities, while management’s outlook emphasises patient capital deployment, rising income from floating-rate credit, ongoing growth in private businesses, data centre and real asset opportunities, and maintaining significant liquidity to support future shareholder returns through the cycle.